years as la-based fund manager capita group becomes its third biggest shareholder. we are live in frankfurt with that story. elsewhere in germany, factory orders slump on the same day ecb president christine lagarde says the ecb has significantly reduced scope for action. is the central bank nearly out of ammunition? the year is taking a hit this euro is takinge a hit this afternoon. we are counting you down to the european close on "bloomberg markets." ♪ vonnie: lots of things going on in the market today. we had a first rate increase out of global monetary central banks today, with the check central czech centralhe

bank increasing rates. the s&p 500 is rally and once again today. maybe rally is too strong a word, but it is up 0.2%. of forecasts for it to reach 3600 for the year. the 10 year yield at 1.65%, grinding higher. russia is holding out when it comes to it oil cut from opec. crude is in a holding pattern. of the earnings one notables, up 16% after beating on revenue and adding new users. guy: casper has just opened, the bed in a box company in the states. we saw a significant downgrade of the price into the ipo. they basically cut it in half. went out of the door at $12, now up someat $14.04, so

20% at the moment. as the stock moves forward, you want that bounce. you don't want the negative response we saw from some of the ipo's last year. casper out of the door, trading $14.30.5, it's bouncing around a bit now, but it is a positive response for the stock. i understand we are going to be talking to the ceo, so looking forward to that situation. european stocks track higher. also seeing a lot of strength in the dollar today. we got a decent move lower in the civil currency right now, and a move lower in the cable rate right now. $1.2931 right now, down about 0.5%. up by 13%ank stock now. vonnie: we will be getting to

germany and a little bit to talk about deutsche bank directly, but first, let's get to the latest on the coronavirus. the city of wuhan telling residents to begin reporting their body temperatures daily as cases on the chinese mainland top 28,000. kong with from hong the latest is sophie kamaruddin. does it look like things may start getting back to normal on monday? sophie: that doesn't seem to be the case as we still have production still on hold. movement will be restricted in residential compounds as authorities address the situation. we have china strongly objecting to the travel restrictions

placed to the mainland, which has stranded houses of chinese abroad, and generally come picketing travel for many in the region. we do have government around the world continuing to weigh their options given that the death toll is likely to keep climbing, and of course, the potential emergence of super spreaders. guy: that doesn't sound good. when people do get back to work and we start to see the economy beginning to crack up again -- to crank up again, what did the chinese authorities do to try to stability that growth? at the moment, the country and large parts of it are a log down -- are in lockdown. what do they do when things start to get going again? sophie: we've already started to see some measures to help provide support, whether it is fiscal stimulus or perhaps even support for force majeure, which is allowed for companies to

announce such measures. one looking to not take up some lng contracts under force majeure. we are learning that some big committee meetings by chinese policymakers may not be happening. they are likely looking to reassess what the outlook is like from here for the chinese economy. when you look at the industrial sector, that is certainly going to be a major focus here, given that operations are suspended for many companies. you have in the auto sector a big hit. chrysler warns it could see european production impacted by the shortage of china made parts. there's a big question as to how much the impact will be and what the chinese authorities may do to buffer that effect. andie: of course, markets y's, china is trying to stay in announced -- today

and capital-wise, china is trying to stay in the game, and today announced they would continue to honor phase one of the trade deal. sophie: china has announced it will lower tariffs on u.s. goods , while imports to and from china is looking a little more questionable given the logistics . for example, when it comes to oil imports, we are seeing demand in china drop, which has opec reassessing what it can do with its production, looking to cut output through june. overall, there's a lot of in whatat play here happens be on monday. vonnie: sophie kamaruddin in hong kong come our things to

you. a gain of $3.33 for a market value of about $615 million. that was a lot lower than its last private funding round. let's get into some of the details before we talk to the ceo later in the hour sonali basak here in studio. you could look at this as half-empty because it is a lot less than the last private funding round, and yet, it is rising. sonali: we've seen worse, right? --lo thanh, -- pellet gun peloton, when it came out last year, traded down. at $12, sevensing dollars below what they initially sought out, but where wheretrading now is above the king of believes casper should be.

he believes the value is around $13 per share. we are seeing it trade above that. a little bit of green is a good thing, no matter how low you start that ipo price. guy: is this a sleep company or a bad company? the 2 -- or a bed company? the two are very different. abigail: something -- sonali: something i want to point out to you, speaking to what types of companies are attracted to it, target and its exposure to casper is something a lot of people talk about because target reportedly held talks to purchase casper back in 2017 when they ended up taking a stake. at the time, casper wanted $1 billion for that type of deal. now casper is still trading well below where target, a big consumer company, had taken a stake. growth's see how their topline -- it's

fast-growing, definitely more than what we see for most consumer companies. vonnie: is this part of the problem, that casper should have gone public sooner and might have been better? they waited so long, there are -- there of dashed o are a lot of players in the market that were not there before. sonali: or should they go public at all? a really interesting thing i have seen this morning being shared around is how may companies have a down round in an ipo. some of them are very interesting. -- pinterest lost value, square lost value. but now they are a $34 billion company four years later. the long-term trajectory depends on what happens, doesn't it?

vonnie: we are going to be speaking with the ceo of casper later this hour, so we will ask him all these questions on how pleased he is with a successful ipo. the company trading around $15 now, up about 25% from the ipo price. our thanks to bloombergs sonali asak. guy: let's carry on the conversation and try to get an understanding of what the coronavirus story means for the economy and the wider markets. joining me in london, david page, head of acro economics at axa investment -- of investmentics at axa managers. the data is mixed, as they always are with china, but it is clear they are going to be ripple effects. how do you try and calculate

those? david: it is early to try to get a grip on which trajectory you are going to follow. it seems very unlikely this is going to be something as contained as sars, but it still could be well contained within china. equally, we are seeing cases grow outside, so there's an open question here. whatever does happen, the impact on the chinese economy and the fact the chinese economy is much bigger means that the macroeconomic impact on the rest of the world is going to be bigger one way or another. quite aink there's large difference between something china is broadly able to contain and something that percent oround 0.25 0.5% of gdp, or something that spreads and could be much worse. what is interesting is that markets are trading in this sort of gray zone. there is no sufficient data that

they need to price for a worst-case scenario. there's a little bit of tailwind that could carry markets, so we hedges, but it is too early to tell. guy: once again, liquidity seems signal very clear buy for risk assets. do the chinese continue to add that liquidity, and by extension, do i continue to buy risk assets? david: regardless of the path of the disease or virus, we will see offsetting actions. down.e markets are still as we go a little further along and the chinese household and businesses are able to respond, we would expect to see other policy responses as well,

fiscal, monetary, and probably a combination of the two. but we are still looking at a material hit. the estimated impact of sars in 2003 was one present. diseaset your lightly -- we expect you are likely to see 1.5%, maybe 2%. so there will be an impact coming through. vonnie: a bit of breaking news, gentlemen. boeing is now erasing most of its gains. it is up about 0.4%. a headline crossing the bloomberg from the faa. boeing has identified new software problems on the 737 max. once again, boeing has identified a new software problem on the 737 max. the faa chief steve dixon is commenting on london -- in london on the software issue. the stock is up 1.4%, so it is difficult to know what this means for the company more broadly. guy: there's a briefing going on at the u.s. embassy right now.

dixon gave a speech a little earlier on the aviation club, and now doing this briefing. what is clear is the faa is in the driver seat in terms of the messaging right now. this was the problem that boeing experienced last year. it tried to get out in advance of the faa. the faa firmly stamping its authority. it is interesting that once again, we are seeing another software issue being highlighted. they are going back through the aircraft and the software systems with a fine tooth comb, but most of the airlines and carriers that have this aircraft on order are probably expecting it not to be able to resume flying until probably midway through this year. nixon is talking about an additional software issue. this is increasingly problematic for this company. how much longer can the company continue to operate the way that it is at the moment? it has been through the markets to raise additional cash flow,

but the longer this goes on, there's probably going to be a major cash flow crunch coming potentially later this year. vonnie: the stock is backup 2% higher of a gain. i want to point out that robert kaplan in the u.s., the dallas fed president, actually speaking with reporters in dallas in just the last few minutes. boeing it wasn't for the issue, as well as the coronavirus, how it will impact the u.s. economy, he talked about a hit to the economy. we will get to those comments. back to our guest david page in just a moment. first, let's get a global market check with kailey leinz. kailey: global equity markets keep grinding their way higher. ,ome optimism today on china but we have concerns about the coronavirus. right now, the stoxx 600 higher

by about 0.5% in the european session. 0.25%, as is about the s&p 500. the index on its way to its best week since june. i want to focus on the nasdaq specifically. the nasdaq 100 is up 4.6% this week, on pace for its best week in 15 months, all the way back since november 2018. the stocks that have really led the way for the nasdaq have been the likes of biogen and tesla, which are each up about 20% in the past five days. the gains today come despite the fact that a lot of the chip stocks arles actually lower. today on a lower mixed sales forecast for the next quarter. that has to do with 5g maybe not paying off as soon as was expected. for the semi stocks, we also have concerns about the coronavirus adding to the drag and o.n.kes of amd

semiconductor. you have twitter revenue and user growth beating in the fourth quarter, adding 21% growth. cardinal it again nice beat, raising its guidance by about $.30 -- by about 30%. zynga also getting a nice earnings boost. vonnie: remember, gtv allows you to browse all of the charts featured on bloomberg. this is bloomberg. ♪

♪ from london, i'm guy

johnson. vonnie: from new york, i'm vonnie quinn. this is the european close on "bloomberg markets." we are speaking with david page of axa. want to come back to the boeing news we had a few moments ago about a new software flaw being found. this coming out from the faa. but mainly, robert kaplan mentioned boeing, and said that economic growth might be 0.4% higher if it weren't for the boeing problem. we still don't know, and won't know for some time, what the impact of the coronavirus is. how concerned does that make you given that kaplan is a voting number this year? david: the boeing problem is something we have been aware of for some time. it is sort of encouraging to think that the fed is considering it along the same sort of magnitude. that is part of our forecast. we expect u.s. growth to slow this year to 1.6%, which is around trend.

it is a little slower than the consensus. that story is pretty well digested and has given us a pretty clear theory of what it is going to do. as to where it goes, if we see it contained within china, we are looking at a spillover effect into the u.s. which is possibly 0.1 percent, 0.2%. we saw fed chair powell talking about the fact that sars had absolutely no impact on monetary policy in 2003. i think if it is that order of minded to, -- order of magnitude, it is not one that has to be acted upon. however, if it is going to spread beyond china, the impact on economic activity would be more marked than that, and more marked on the u.s. than that.

that is something that the fed may want to take more preemptive action over. with the speed of this virus, by the time we get to the next fed meeting, we are likely to know which of those scenarios we are in. so we could theoretically be in a situation where the fed has to move relatively quickly on this. for now, we are in a wait and said. fed chair powell guy: will the u.s. economy slow down significantly between now and november? david: absent the coronavirus or with it being readily marginal, it will be starting to slow down by the end of november. we forecast before we were considering the coronavirus that the fed would have to cut before it got to the end of the year already, so we are expecting to see renewed acceleration. if was think about the back end of last year, we start to see a slowdown in consumer spending come through. we think that is probably going to continue. we think it starts to modestly

slow by the end of this year, but it is next year we see a bigger slow down, and that is what the fed will probably want to get ahead of. guy: obviously, the politics comes into play. the president will be paying attention to those numbers very keenly. david page, head of investment -- head of macroeconomics at axa investment, is sticking around. this is bloomberg. ♪

♪ guy: from london, i'm guy johnson. vonnie: from new york, i'm vonnie quinn. this is the european close on "bloomberg markets." 13%, havingt $51 spent most of the session -- at $51.13, having spent most of the session lower. the nasdaq is getting the most, up 0.6%. many of the companies that reported today reported

better-than-expected earnings, including twitter, which is up about 15%. guy: keep an eye on tesla. here in europe, we are up by about 0.5%. volume is very strong. banks are trading up. arsenal.bank, we will provide you with all of the details on the european close. that is coming up very shortly. also seeing big moves in the currency markets as well. that's coming up. this is bloomberg. ♪

guy: 30 seconds until the end of regular trading in europe. european stocks are up not as much as yesterday but still a lot of green around the continent. as the session started more strongly than it is finishing.

and thatthis story have gone sideways. what we got first thing was a spike to the upside. bit after gapping a little and then crawling sideways. we are obsession lows which were hit mid afternoon. we are up .8%. individual markets look like this. a little bit of underperformance from the ftse relative to the dax and the cac 40. the banks on the continent have been drivers. they are far and away the best performing sector. to the ftse 100 we take you to the 7500 level. we have seen weakness and the pound and the euros but the dax up 92 points, the cac 40 up 51, up .9%. let's take a look at the grr and look at the sector story. only a couple of sectors in negative territory. there are heavyweights. performerare the best

, namely deutsche bank and unicredit. i will show you deutsche bank in just a moment. telecom sector bank -- telecom sector bouncing back after yesterday. utilities doing well. telling you what is happening with the safety trade. the bottom end of the market, a relatively small sector compared to the one just above it, which is oil and gas. down .5 percent. oil and gas down .4%. many of the oil stocks are to be found in london which is where we are seeing some of the underperformance. i mentioned the banks. deutsche bank up 12%. the back of its numbers up 8%. we have also seen a decent set of numbers from arsenal. that stock up over 11%. it will be interesting to see how the stocks trade given the global demand story. a very positive message, the stock trading up at 60. that is european close. , but wea minor rally

are up 3.5% this week so far on the s&p 500. getting another .33% added. the nasdaq is the one running away with things. it is up twice that amount. the 10 year yield is at 1.65, but no change today, not treasury money going into stocks today. crude oil is up, having been down earlier. we are awaiting russia's decision. twitter is the best performer in the s&p 500, up almost 20% which is quite the move for twitter. let's have a look into the s&p 500. you see twitter is the best performer but you also have cardinal health, gilead appliances and some of the pharmaceuticals doing well. idea i mightr, the be buying ebay is going away.

you do not know how these things might change. when it comes to the downside, dickinson the worst performer on what evercore isi is calling a bigamist in terms of guidance -- a big miss in terms of guidance. let's turn our attention back to the data that has been coming out of europe. disappointing data out of germany. this is the ecb president christine lagarde warns it will be challenging for central banks to take additional stimulus measures. >> this low interest rate and low inflation environment has significantly reduced the scope for the ecb and other central banks worldwide to ease monetary policy in the face of an economic downturn. page.ack with us is david

if there was a crisis it could be caused by coronavirus the number of different things. is the ecb capable of acting? david: not in the way it has been in the past. we think the governing council has now committed to the view that the rate of 9.5 is about as low as they want to take it. we are already in negative rates. we do not think there'll be additional rate cuts coming through. then it becomes an issue of quantitative easing. at the moment the political constraints on the ecb within the rules of its quantitative easing do not allow for the same expansion of the balance sheet as the bank of japan. that is going to stop it providing much additional stimulus at any stage. we think hypothetically, if there were a significant development, there will be some adjustments. we also think fiscal stimulus is something that will have to be considered as part of the eurozone stimulus package if and when it occurs. when that stimulus comes, the

fiscal stimulus, you will see issuance which will provide the scope to increase q. week. -- to increase eq. -- to increase qe. in terms of monetary response compared to the federal reserve, the ecb is limited. guy: if there was a response, what the euro go up? david: we think so. you are sitting the federal reserve cut rates and increasing monetary policy stimulus. you are seeing the eurozone providing fiscal stimulus. it could berget something like 120. quite a significant swing. vonnie: how interesting is it to central bank watchers that the check central bank raised rates today? david: the whole region is doing quite well.

there is still growth coming through, there is a lot of government spending coming through, and although we have seen a material slow down in the german economy, which is traditional in area that impacts that area, we have not seen the underperformance come through. at this stage it was rather anomalous. bank,e not class the ritz which moved away from negative territory, we do not think it will be a lead indicator of other things. vonnie: speaking of germany, is there trouble on the way for the government? david: we think so. as much as anything else, there is clearly an evolution coming through in politics at we have seen that with deutsche bank coming into some form of power in that region. i think the german government's problem, above and beyond the split we are seeing amongst the different parties in germany, is the fact we are seeing an

economy that is performing poorly and one that does not look like it will pick up anytime soon. market provide some support. thee are distinct pressures german government has to cope with. vonnie: david, thank you for your time. that is david page. germany.s stay in as we saw a moment ago when it came to the european close, a number of european banks have had a strong session. deutsche bank is up the most in four years on news the $2 trillion la-based funds manager capital group has taken a 3.1% stake in the business. that makes the german lender the third -- that makes it the german lenders third-biggest shareholders. not everybody is convinced and start turning around at the bank.

-- not everybody is convinced things are turning around at the bank. >> i'm not calling on everybody to bail deutsche bank. several they produced months ago, is about five years too late. it is possible they could solve their problem, but i think it is unlikely. vonnie: -- guy: unlikely. not everybody is convinced of that viewpoint. let's go to frankfurt and join bloombergs german banks reporter. walk us through this new shareholder deutsche bank has. clearly a significant of element from a share price point of view. >> absolutely. the share price today, i was following it all day, it is amazing. this was a big development. it comes on the back of positive news for deutsche bank more generally. it showed good quarterly results last week and as you said, european banks are up across the board. they have a lot of talent at the

moment and for the first time in a very long time, investors seem to be buying into the restructuring. not everyone. there are still some doubt. the investment by capital group today certainly highlighted that one sophisticated investor convinced deutsche bank has upside potential and was willing to commit a lot of money. vonnie: a 3.1% stake, it is a big stake, but put it into context. we have seen a massive share reaction even though shares had already been up 39%. a massive reaction on top of a big reaction. it is 3.1% that much of confidence? steve: they are using their clients money. they are convinced this will pay off at some point in the future. it has already paid off to a certain extent. what we also have to keep in mind is deutsche bank's share

price was an all-time low in august of last year. they were at five point down from they came ago,90 euros just 10 years so the share price has declined so much. they are at extremely low valuation. any hope this could improve the stock will send shares up. guy: i am sure that building behind he was standing a little taller. that is deutsche bank behind steve. thank, indeed. vonnie: casper shares are surging on its trading debut. the ceo is at the new york stock exchange. philip krim joins us. congratulations on the beginning of trading. it has been a long road. was about 50% of last privately value round. to go public you have to cut the

valuation of your company in half. how does that sit with you? : any time you risk capital for a business there is an interesting moment in time. for us, we continue to be excited about our long-term journey and that will be our continued focus, halep built -- how to build the world first sleep -- our mattresses, our pillows, and that is what we will continue to stay determined .nd focused around goo vonnie: what is your moat? since you started, many other mattress delivery companies have sprung up. there are more than 150 now in the u.s.. what differentiates casper? philip: it is a great question. three things come to mind. our brand is something unique and special to us. it has resonated with consumers in a remarkable way and the

brand is built on the trust we are creating with consumers about helping them get the best night of sleep. we think the casper brand stands alone. building the trust comes because people know the casper products are the best products in the market. the reason our mattresses the number one rated mattress, it is because we have a reason -- an amazing team of folks in san francisco designing products to help elevate your sleep quality. the third thing that differentiates us is our market strategy. we have multiple touch points for consumers. they can chop is online through casper.com and go through our 60 retail shores -- retail stores or shop with our great retail partnerships. we think the combination of those three factors allows us to have a different approach to what we are building. public, why not stay private? why not become part of a bigger group?

you talk about target. what other options were there and why did you choose this one? philip: we are excited to be a public company. i think we will do well in the public markets. we are going after large markets that have been absent of any innovation and that is the key to casper. we are innovating on the products we have and the experiences we have in market and that is a very different approach from what we are building over time. for us, given that these are huge markets, consumers in the u.s. alone spent 17 billion dollars to $18 million on mattresses. we will continue to build a global sleep brand. guy: what is the difference between a mattress company in a sleep company? philip: we think holistically about sleep. sleep economy has been disorganized from a consumer standpoint, and yet consumers are asking themselves more and more about a better night sleep. casper thinks about the products that can improve your sleep and we think organizing that economy

is unique part of our value proposition and something that has resonated with consumers. our pillows are great products. they can help you get a better night of sleep. i mentioned the glow light, a technology product that helps us get a better night of sleep. we are thinking about how we can help the world sleep better. filing, 200 $50 $250 ofting costs -- marketing costs. what will keep customers at casper beyond using it is a better company and so long? we know that on certain products customers do not have that kind of loyalty, especially if their loyalty is being bought by another company. what you think of critics who say your customer base is not sustainable? philip: sleep products are highly considered purchases. you are spending a third of your life dedicated to sleep. we think having a brand

dedicated to getting the best sleep possible is a sticky proposition for us. we are seeing consumers come back to casper, they had a great night sleep with casper, the brand delivered a great night of sleep, and our products, there is a multitude of ways to expand your sleep across our product portfolio. we have seen customers come back to us quickly and that will accelerate as we bring more products to market. vonnie: you also mentioned in your paperwork the market in hotels, airplanes, have you secured any clients in those spaces yet? when do you plan to go after them? philip: we are proud of the fact that american airlines chose casper to be their official sleep product partner, which is amazing given the largest airline in the country choosing casper. they saw the product we bring, they saw that wellness is a focus of their flyer, and sleep is critical while you travel. if you've lined american airlines you can see casper products that help you get the

best night of sleep possible. that is one example of established companies looking at casper to help them improve their value proposition when it comes to getting the best night of sleep possible. and higher25% counting, casper is doing pretty well in its first couple of hours of trading. our thanks to casper ceo philip krim. what is's talk about happening with european close. a low bit of a dip lower for the ftse 100, not a big one. only up .3%. deutsche bank has had a solid day in the dax. the cac 40 up .9%. we'll carry on the market coverage and talk about what is happening in these markets as we try to analyze the impact of the coronavirus. we'll be doing that at the top of the hour on dab digital radio on the table show. jonathan ferro is in new york. i will be joining him in london.

this is bloomberg. ♪

vonnie: live from new york, i'm vonnie quinn. guy: from london, i'm guy johnson. ons is "the european close" bloomberg markets. vonnie: time for our stock of the hour. here is viviana hurtado. topping --ares are quarterly revenue topped $1 billion. audience jumping by more than 1/5. let's take a closer look at the quarter. if we were to pull out a couple years, the first revenue growth quarter in a row in 18 months. the chart you are looking at, let's talk about that. -- we are on the chart that growth,arterly

especially what you want to see is those last bars. that shows that consecutive growth. jack dorsey is having a good start to 2020. he is also having a good year with square, that is the financial services company, the mobile payment company. going back to twitter, this key growth you are seeing is the fourth key metric i want to point out. that is average monetized of all daily active users. the growth is 162 million, much better than 148.1 million. if we drill down a little bit more, it is international growth that is outpacing u.s. growth. if we were to look at how twitter is stacking up in the intraday with social media and it ist is leading, and important to note the stock has missed out on much of the text tech rally boosting alphabet and facebook.

what's ahead for 2020? a packed slate of global events. tokyo olympics, u.s. presidential election, these events drive higher u.s. engagement and ad sales. the street reaction muted because these events are in the second half of the year. that is your stock of the hour. thank you to bloombergs viviana hurtado. coming up next is our global battle of the charts. i have a good one. alix steel i bet has a great one as well. vonnie will decide. this is bloomberg. ♪ sometimes your small screen is your big screen.

and with the xfinity stream app, which is free with your service, you can take a spin through on demand shows, or stream live tv. download your dvr'd shows and movies on the fly. even record from right where you are. whether you're travelling around the country or around the house, keep what you watch with you. download the xfinity stream app and watch all the shows you love. vonnie: it is time for our global battle of the charts. you can see the charts on the bloomberg. just run gtv . picking things off we have alix steel. alix: we talk a lot about the impacts on commodities from the

coronavirus. a lot of people say demand will come up in the back half of the year. this is one chart that worries me a lot. it is the different price of natural gas. asia, theline is yellow line is the u.k.. we have heard sina has declared of force majeure. that is pretty much unheard of. usually it is the producer that gets hurt. that leaves more lng on ship that cannot unload. that weighs on natural gas prices. the long-term repercussion is if you wind up hitting shortage levels of peak in europe you cannot wind up importing lng, this will be lng stranded. particularly in the u.s.. the lower natural gas prices go here in the u.s., the more concern there is producers will have to shut in and stop production. warning of bankruptcies for natural gas producers. the ramifications are severe,

particularly when it comes to u.s. companies. you can see this chart -- one of my favorites -- if you go to gtv . vonnie: it should be one of your favorites. it is an excellent chart. we do not talk about natural gas enough, do we? guy: appellee not. it was a good chart. not that good. are we about to see a major breakdown from a single currency? your isook at dxy, the a very significant -- the euro is a significant component of both of those baskets. today we are seeing the euro below a key support level that held up last year. the euro touched it a few times but that support held. that support level has been broken today. you take a look at the candlestick on the session starts, the opened and the close our below that line and we are looking at a situation where the

movement has been down throughout the session. if this currency starts to break lower, the dollar starts to move higher, this will be the epicenter of what happens when it comes to the commodity story alix steel is talking about. clearly the coronavirus is having an impact. if the dollar starts to rocket to the upside, all commodities will be affected by that. keep an eye on currency pair. it has not moved much. it may be about to change. vonnie: i like it. an impressive chart, an important chart, well done. chart to say alix's floated my boat today. that is the natural gas boats you are talking about. don't forget to join her on "commodities edge" at 1:00 eastern. ♪

david: from bloomberg world headquarters in new york to our tv and radio audiences worldwide, i am david westin.

welcome to "balance of power," where the world of politics meets the world of business. president trump is set to speak from the east room of the white house any moment now. we are watching that carefully. we will bring that to u.s. soon as it happens. has a discussion of what he calls the country's victory after the senate voted to acquit him on two articles of impeachment. joining us with more analysis is bloomberg contributor rick davis , former presidential campaign manager for john mccain. we are waiting for the president. he says it is a victory for the country. i predict this might be settling some scores. rick: settling some scores today, a little pumping up for the future. it was a tough month. the congress put him through a lot. split the vote. if it had not been for partyline you would've had bigger problems. mitt romney the only defection from the rep